• Discussion comes ahead of upcoming Annual Investment Meeting
• Abdullah Al Saleh: ‘Mexican relations well poised for further development and mutual cooperation’

Dubai-UAE: 06 March, 2014 - His Excellency Abdullah Al Saleh, Undersecretary of the UAE Ministry of Economy, Foreign Trade Sector, hosted a Mexican economic delegation as part of a visit aimed at building links and increasing cooperation between the two countries.

Al Saleh met with His Excellency Francisco Gonzalez Diaz, Director General of the Mexican Ministry of Economy and the Executive Director of ProMexico, along with other delegates to discuss bilateral trade relations and explore ways to bolster further investment.

Commenting on the meeting, Al Saleh said: “The UAE’s relations with Mexico are well poised for further development and mutual cooperation.This key alliance can be further strengthened through formulating symbiotic trade regulations that particularly improve the investment climate for small and medium enterprises.

“The Ministry of Economy spares no efforts in driving the competitiveness and diversity of the UAE’s economy. We are also working on promoting sound business practices, consumer and intellectual property rights protection, and enhancing the competitiveness of the country in foreign markets, besides stepping up relations with countries worldwide."

During the meeting, Al Saleh noted that the economic relations between the UAE and Mexico had witnessed a steady increase in recent years, with the volume of trade reaching US$499.7 million in 2011. He added that the opening of the Mexican Embassy and Consulate in the UAE provided a further boost to the relationship between the two countries. The synergy is validated by the presence of four trade agencies in the UAE and 118 Mexican trademarks that are currently registered with the Ministry of Economy.

Reiterating the UAE's importance as a primary trading partner for Mexico, Al Saleh highlighted the opportunities in the private sector and stressed the importance of Mexican participation in exhibitions and fairs, such as Gulfood.

Al Saleh said the UAE’s initiative to host the Annual Investment Meeting came as part of the country’s commitment towards building a knowledge-based national economy in line with international standards. The Mexican delegation confirmed its participation in the forum hailing the event as a key global platform for dialogue and interaction among many of the world's leading economies.

Diaz urged the UAE private sector companies to take advantage of the opportunities in the Latin American markets and underlined Mexico’s desire to explore investment and partnership opportunities within various sectors of the UAE, especially in the renewable energy sector where the UAE is a global leader. Pointing out Mexico’s keen interest in the knowledge and creativity domains, he said its young population is well geared to contribute to the country’s growth vision.

The meeting was attended by Juma Mohammed Al Kait, Assistant Under-Secretary for Foreign Trade Affairs, Abdul Salam Al Ali director of trade policy, and Aisha al-Qubaisi, Director of World Trade organizations in the UAE Ministry of Economy, and from the Mexican side Juan Antonio Cepeda Gutiérrez, ProMéxico, Enrique de la Madrid, Director General of the National Bank of Foreign Trade (BANCOMEXT), Miguel Sergio Siliceo Valdespino, Assistant Director General for Finance – BANCOMEXT, Juan Bosco Martí, Head of the Unit for International Affairs at Ministry of Finance, Francisco González Ortega Mena, Director of Banking and Investment, and Trustee Delegate, National Fund for Infrastructure (FUNADIN) and Pedro Blanco, Deputy Head of Mission, Embassy of Mexico to the UAE.